You won't get this on Amazon: Fans queue to see Viva Brother at HMV at the Oracle
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HMV calls in the administrators
January 15, 2013
Music and film chain HMV has announced it is calling in the administrators, putting about 4,500 jobs in doubt.
The company's 239 stores, including one in The Oracle and one in Charles Square in Bracknell, will continue trading while potential buyers are sought.
However, the shops will not be accepting or issuing gift vouchers.
The 90-year-old chain has struggled against the growing popularity of downloading music and films and competition from supermarkets.
A statement by the company said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."
The news comes just a week after camera retailer Jessops closed down and follows the collapse of electrical goods store Comet last year.
At one point, Reading had a second HMV store in Friar Street as well as a Virgin Megastore, in St Mary's Butts and Fopp, in West Street.
The Oracle HMV is now the town's sole surviving dedicated music and film retailer apart from charity and second-hand stores.
Most recent user comments 15 of 72
They (like Zavvi and Jessups) have allowed customers to purchase gift vouchers that they will never honour.
Surely, (like Zavvi and Jessups) this decision was on the cards more than a month ago?
Bordering on fraud
15/01/2013 at 18:19 Offensive or Inappropriate?
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They also don't reek of the desperate "Can I Help you" phraseology, which HMV, nowadays, has.
15/01/2013 at 17:21 Offensive or Inappropriate?
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15/01/2013 at 17:08 Offensive or Inappropriate?
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What also upset me with HMV is that they slowly fazed out knowledgable staff for shelf stackers.
They also made a pigs ear with that online music subscription a few years back. Cost a bomb & wasn't compatible with their biggest selling MP3 player, the iPod.
Big unit to fill in the Oracle. Fingers crossed for a roller disco.
15/01/2013 at 17:06 Offensive or Inappropriate?
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15/01/2013 at 16:54 Offensive or Inappropriate?
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The super deluxe reissues of Paul McCartney's Ram, The Jam's The Gift, Peter Gabriel's So, Pink Floyd's Wall and Dark Side of The Moon, Elvis Presley's Prince From Another Planet sell. Likewise, Ace continue to provide excellent Northern Soul, and Southern Soul from Muscle Shoals, Memphis, and New Orleans.
Also, limited edition specialist sites such as Rhinohandmade and Hip O Select, still sell CDs focussing on certain marginal artists, such as Leon Russell, Bobby Charles, and Tony Joe White.
Certain artists also sell music from their own websites, which also appeal to fans. A case in point being Dan Penn's Blue Light Lounge demos, John Martyn concerts, the Stonesarchive series, and even Van Morrison Live at Austin City Limits.
People still, if they wish to, buy CDs, so you cannot really blame Itunes. Fantastic shops like Sounds of The Universe in Soho put together excellent compilations of Soul, Blues, Jazz, Reggae, and even TV soundtracks. Redlick in Cardiff are an amazing blues specialist shop, and they are cheaper than HMV too, and that also includes postage and package.
15/01/2013 at 16:53 Offensive or Inappropriate?
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It should have specialist sections, where staff know what they're selling, and not little sections. It became too broad a church, with even Haribo sweets sold in the place, and even Heat Magazine.
There was a time when you went into HMV, and you purchased Mojo, Uncut, and fanzines such as Now Dig This !, Shindig, Essence, Isis, John Bauldie's Telegraph, and imported editions of Downbeat. To have the fanzines for the music collector replaced by Heat was disgusting.
Likewise, you could, at some stage, buy Japanese imports of Herbie Hancock's Flood, limited editions of Percy Mayfield and Allen Toussaint recordings, but not now.
HMV also sold some wonderful Ace records reissues of Cajun and Zydeco at £9.99, but now they don't have any agreements with Ace, and the reissues are now £15.00 per CD.
It's no longer what it was, but hopefully Deloittes may remedy the situation, and, like Bemused correctly states, let it concentrate on music.
Reissues are still being sold on CD, so CD isn't dead.
15/01/2013 at 16:42 Offensive or Inappropriate?
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15/01/2013 at 14:57 Offensive or Inappropriate?
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The other thing is that I did suggest that online subscriptions to newspapers, magazines, and periodicals, may have an adverse effect on WH Smith. However, good for WH Smith if they are making a profit in this trying time.
I think they will survive: they have successfully adapted to the E-Book with the Kobo.
15/01/2013 at 14:51 Offensive or Inappropriate?
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That said, before I embraced the digital revolution I was also a big fan of sound machine :)
15/01/2013 at 14:46 Offensive or Inappropriate?
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15/01/2013 at 14:26 Offensive or Inappropriate?
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WH Smith's 2012 accounts show they made £63 million profit on sales of £462 million, a third increase on top of strong growth in 2010 and 2011.
To suggest they are going down the tubes because they didn't stock a book you wanted is frankly bonkers
http://www.whsmithplc.co.uk/docs/reports/WHSmith_AR12.pdf
Back to the plot, I am sure HMV will survive in a much reduced format. As is often the case with failed businesses, they tried to diversify too much and didn't focus enough on their core product of music.
Had they been able to deliver that better as physical and digital products they wouldn't be in this predicament. I speak as a long time loyal customer and owner of 3,000+ CDs, every time I went in there lately I felt they were too busy trying to push gadgets, headphones, non-music books and packs of Haribo, and anything non-chart was significantly over-priced.
15/01/2013 at 14:24 Offensive or Inappropriate?
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15/01/2013 at 14:11 Offensive or Inappropriate?
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'Who needs to buy music when it's immediately available online whenever you feel like listening?'
Because playing a file off a computer is a horrible way to consume music as a fan. Records smell, feel & play great.
Big ups to Jims Memorabilia shop in the arcade too, picked up a few bargains the other day. Tricky Disco on Warp Records, original sleeve, £5.
15/01/2013 at 14:06 Offensive or Inappropriate?
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